Evari

Who They Serve

The Evari CloudStream Platform (ECP) is a highly configurable, low-code/no-code platform for those organizations seeking an innovative, end-to-end solution for building and managing their applications, quotes, and policies. Though Evari describes their platform as industry agnostic, they specialize in insurance and serve a mix of MGAs, carriers, brokerages, agencies, and affinity partners.

The ECP calling card is that nearly everything in the system (all business logic, user workflows, and experiences) can be customized, making this product a great option for:

  1. Teams looking to launch a new product line or greenfield project within their organization, and/or
  2. Teams seeking to digitize/modernize their legacy systems and experiences

Per the Evari team, “All of the elements of the flow are fully configurable using our low/no-code tools–there are literally no parts of the flow that are not configurable.” As such, the ECP is intended for those who want tailored experiences/workflows and have the internal resources to support their product build (whether as builders themselves or as resources to guide Evari on the initial implementation).

For teams seeking more of a turnkey, out of the box solution, Evari has template configurations for all common insurance business workflows such as quote/bind/issue, mid-term adjustments,renewals, cancellations and payment/credit control workflows. These templates can be used as is, or tailored to meet the nuances of the individual clients needs.

Evari offers a wide range of features to support underwriters, brokers, and agents efficiently as they conduct the daily business of issuing and managing policies. Their intentional, well-thought-out platform empowers each client to “choose their own adventure”, selecting functionality and building configurations that make sense for their individualized business needs.

What They Do

But First, How

Event-Native Architecture

There is no doubt that the ECP, with its robust list of features, can meet the needs of insurance companies looking to add new policy management software to their tech stacks. Still, understanding the ECP’s biggest strengths requires an initial investigation of the “how” behind the platform, rather than a cursory review of “what” the platform can do. As Evari’s CEO explains, their “choice of microservices and [an] event-native architecture was very deliberate; [it was the] consequence of tens of millions of dollars in R&D in order to support the most scalable and highly performant platform possible, able to perform transactions in real-time and retain a full history of all events.”

What does all of this mean? We’re glad you asked! Evari utilizes an event-driven (or as they call it, event-native) architecture, meaning that the logic of their system is centered around the flow of events.

Each component of the ECP has one of the following roles:

  • Event generation - Produces events (a user interface, for example)
  • Event consumption - Processes events, and thus triggers actions or responses
  • Event routing - Routes events from the producers to the consumers based on predefined rules or logic
  • Event handling - Works with consumers to perform tasks or responses based on the events received

An event-native architecture also naturally builds in event-sequencing. Event sequencing ensures that all events are processed in a specific order, crucial when multiple events occur simultaneously or in rapid succession. In insurance policy management, where events are often interdependent, not having event-sequencing can lead to data conflicts or inconsistencies. The ECP’s enforcement of event-sequencing processes each action in the order received, queuing events and addressing them individually. This guarantees the integrity of the final data state at any point in time, enabling real-time collaboration without data accuracy or workflow continuity being compromised.

Because ECP event generators and consumers do not need to be aware of each other in order to accomplish their tasks, platform components can be added, removed, and updated without impacting the rest of the platform. More specifically, this means that the workflows admins build within the ECP can be easily changed and adapted without affecting the entire experience. As such, the ECP can support complex workflows that may need to be changed or extended overtime.

And, because events are tracked from generation through handling, the ECP tracks the entire history of data as it’s being input and created in the system. Every data point in the system can be tracked, recalled, and interrogated on the fly, opening up a new world of possibility related to user management, workflow development, and business experimentation/optimization. For instance, the ECP recently released “Time Traveler” capabilities within policy applications. Here admins can review application questions that have been adjusted through product versioning over time and restore a single question based on a given time or restore all application questions based on a given date. Admins can also access and use historical application answers to identify trends over time and build new configuration rules accordingly. For example, an admin of an agriculture P&C product could review temperature trend data and develop a new rule that surfaces a follow-up question about irrigation when applicants provide location temperatures over X degrees.

This history recall is pervasive throughout the system and is a key to what makes the ECP so powerful. Complicated functionality like out-of-sequence endorsements and auditing become non-issues when an admin can easily access a comprehensive data snapshot to get a full picture at any given moment within the platform.

Core Applications

Evari understands that different insurance companies have different needs. They offer five main features:

  • Forms - Allows for dynamic capture and display of critical information
  • Rules - Empowers real-time decisioning making throughout the platform
  • Workflow - Specifies business processes and data integrations
  • Reporting - Data aggregation, display, visualization and extraction
  • Security - Granular role-based access control

While clients are certainly able to use all five applications, Evari’s modularity and flexibility empowers users to pick and choose the tools they need. Clients can start small and grow their business with Evari over time, as the need arises.

Configuration

The ECP’s configuration layer sits atop of and leverages their core application set, freeing administrators from the restrictions of hard-coded logic used by legacy platforms. Admins can configure complex workflows that incorporate rules to trigger certain events (ie, send email A if the applicant answers questions 1-3 in B way) and manage team engagement (ie, alert underwriter X when Y is complete). Admins can even configure specific data views based upon their needs, empowering them to access the most pertinent information if/when they need it.

Regardless of what’s configured, the ECP offers multiple ways of viewing and adjusting the build to accommodate all users, from the most technical to the least. Throughout the configuration process, admins can view their work in a no-code editor, can choose to work in a low-code editor, or can view and adjust the code directly via a json configuration editor. Evari also offers a “pro-code” option. (Pro-code is Evari’s designation for code written in a typical programming language that can be inserted into the ECP, giving greater control to developers). This variety of options allows all users to contribute to their product configurations and can reduce the communication/workload frictions between technologists and business users within an organization.

Generative AI Service

Evari has a feature called Generative AI Service. It uses natural language processing to help you set up your system more easily. Using a simple text prompt, an admin can type in something like “Create the following application question and return a list of the top 10 pets in the US.” The system will then create that question and use the AI to determine the appropriate multiple choice responses for the answer set.

The AI can also guide admins through a workflow build more generally. When an admin wants to build out a new workflow, they can either leverage an already existing template or choose to build a custom workflow. In this instance, the AI presents the admin with a set of prompts to guide them through the custom configuration.

And Now, The Specifics

Feature Overview

The ECP provides all of the basic features and functionality expected from a comprehensive platform designed to address the challenges of insurance companies looking to offer apply-quote-bind and policy management services. Applications can be built from scratch or by leveraging a library of pre-built questions and templates. Dynamic documents can be built, populated, and stored based on the needs of the organization. Quote, bind, payment, and billing workflows can be easily configured and are all backed by a robust underwriting workbench. Endorsements, cancellations, renewals, and claims can be simply filed and managed within the system.

The ECP supports direct to consumer (D2C), internal/external agent and broker portals, and embedded insurance distribution options, and each experience can be white labeled and branded to align with the insurance company needs. What’s more, when a D2C experience is embedded into a 3rd party web page using one of Evari’s “Micro-Front Ends”, the styling of the 3rd party page can be passed down to ensure the embedded quote or policy management flow is consistent with the styling on the remainder of the page.

Rating

The ECP uses its flexible rules engine which is a part of their core application set to accommodate all the nuanced logic required for complicated rating-scenarios. As with everything else requiring configuration within the ECP, admins have the option of using no/low-code builder tools. With that being said, the Evari team recognizes that many clients will come to them with already-established, excel-based raters. In these situations, the ECP can easily ingest those files as part of the configuration.The ECP can also integrate with third party rating systems if rating is handled through other tools.

New and of Note

At the time of writing this (August 2023), Evari also just released what they’re calling “Threads” to their platform. This functionality makes it possible for internal and external team members to communicate within the platform via comment boxes on application questions. Users can open up their chat box–which resembles most of the comment text messaging systems–to add a note, ask a question, upload a supporting document–or include an emoji or two! Admins can even configure commenting rules to display alerts if comments need to be resolved and can control who can see which comments throughout the platform. Threads enables fast, streamlined communication within the platform while those using legacy systems have to pick up the phone or send an email to connect with team members and clients. Threads also offers the added benefit of conversation tracking so that communication and decision history is readily accessible.

Integrations

Instead of offering a set of pre-configured integrations that may meet client needs, Evari makes integration so simple that clients can easily choose their ideal integrations and own the configuration process themselves (typically a business analyst is the most technical person required for this work). As such, Evari clients are encouraged to bring in data enrichment and 3rd party services when it makes sense for their business. Per Evari, it’s ideal if clients bring their own API keys for the configurable integrations, though Evari is happy to work with the 3rd party directly if preferred. Evari’s openAPI framework means that clients are essentially creating their own APIs when they build their products, which can be consumed by 3rd party vendors as required. In total, Evari estimates that an integration into the ECP will take 2 days or less, including configuration and testing.

One commonly overlooked benefit of flexible integration is the ability to support batch testing. Evari’s clients often leverage integrations to provide large data sets of test data to the ECP which are ingested to create mock quotes, etc. prior to launch.

How to Work With Them

The Evari team built the ECP to accommodate users who value self-service and have varying levels of technical expertise. But they recognize that most organizations still want to get up and running as quickly as possible. As such, Evari shared that most organizations prefer to have Evari configure their first product within the system. Per Evari estimates, development for a new product takes somewhere around two weeks, though more complex configurations and integrations may add time.

Evari feels that their uber-configurable and customizable platform can help their clients stand out and differentiate themselves in the market. They want to work closely with each client to understand their vision and address their specific requirements. Reach out to the Finsure team or Evari directly to determine if your company is a good fit for the ECP platform.

Products

We asked Evari what products their customers are currently actively selling or placing. If you don't see your product on the list, we always recommend reaching out! This is not meant to be an exhaustive list of what Evari supports.

Customers Actively Selling or Placing Insurance

  • BOP
  • Commercial Auto
  • Commercial Property
  • Cyber
  • Embedded Insurance
  • General Liability
  • Management Liability
  • Medical Malpractice*
  • Professional Liability
  • Workers Comp

Asterisks indicate vendor write-ins.

No Current Customers

  • Accident & Health
  • Inland Marine
  • Life
  • Parametric Insurance
  • Personal Auto
  • Personal Home
  • Pet
  • Rental Property Owners
  • Renters
  • Travel Insurance
  • Umbrella
  • Usage-Based Insurance

Locations

We asked Evari where their customers are currently actively selling or placing insurance. If you don't see your region on the list, we recommend reaching out to ask! This is not meant to be an exhaustive list of where Evari will do business.

Customers Actively Selling or Placing Insurance

  • United States
  • UK
  • Australia

No Current Customers

  • Canada
  • Latin America
  • Continental Europe
  • Asia/Pacific
  • Africa